HR Management is what helps companies determine their goals and find the best route to get to them. This is accomplished by setting a positive and productive office culture. The culture of a business is typically set by the leaders of that business who are usually managers. When looking at the turnover rate of employees, the main factor that determines whether they leave is their manager. With such a high importance on employee retention, it’s critical that managers are capable of keeping the employees they manage engaged and satisfied with their job. I will be looking at 3 of the 2020 Fortune 100 Best Companies to Work For to see how the top companies go about accomplishing good HR practices.
The first company I decided to look at was Bank of America which is considered a great bank to use from the perspective of consumers. This may be because of how welcoming the company is to their employees with 94% of them feeling welcome when joining the company. This is important because making employees feel like they belong there will make them be more effective in their jobs. It’s difficult to be effective when you feel uncomfortable. Overall, 90% of Bank of America employees think it’s a great place to work compared to the typical company where it’s only 57%. HR is a big reason for these numbers and they also contribute to other positive views employees have on the company, like feeling good about the ways they are contributing to the community. When 93% of employees feel that way then you know a majority of your workers are engaged. A big part of an employee being engaged has to do with them finding importance in their work.
Another company I looked at was CarMax because they’re one of the most popular sites to buy used cars off. I know because I used them to purchase my car. In order to run a massive online system like this smoothly, a good team needs to be present. Employees like the ability the company has to change to the everchanging expectations of society while still preserving their mission and core values. A part of why they feel this way may be with how approachable management is. 86% of their employees feel that management is easy to talk to which put employees at ease when they get to know the future of the company. A similarity CarMax has with Bank of America is that at both companies, 94% of the employees feel welcome when joining the company. Having comfortable employees seems very important.
The final company I looked at was NVIDIA Corporation which just continues growing as computers become even more important in everyday life. Employees really like the transparency of management to share all relevant information like schedules and decisions throughout the entire company. 95% of employees consider it a great place to work at which is ridiculous compared to the average of 57%. 96% of those employees also believe that management is honest and ethical in business practices which is where the transparency comes from. Overall, it looks like the culture of NVIDIA has been built through transparency and honesty.
My goal as a manager is to treat each employee in the way that is most suitable for them. I don’t want to use the general route where everyone is treated exactly the same because it cuts down the unique strengths that each employee has. I will become this manager by getting to know the employees I’m managing better and getting accurate data on what’s going on. In order to reach my full potential I will need to become better socially and more emotionally intelligent. I think the most difficult aspect of a managers job is getting relevant data that is accurate to determine the best management practices. Finding the best place for an employee to thrive and figuring out how they can better themselves also sounds like it can become a daunting task. There are a lot of things to consider as a manager but it’s what makes the job rewarding.
